THQ President Details Publisher’s “New Start”

December 20, 2012Written by Alex Osborn

Jason Rubin, THQ’s president, has just released a letter detailing the future of THQ in light of the company’s bankruptcy.

On THQ’s official site, Rubin announced that they have received investment from Clearlake Capital Group, which will in no way prevent the company’s upcoming games from making it to store shelves. So those of you eagerly anticipating South Park: The Stick of Truth can rest easy.

In the letter, the THQ president clarifies exactly what state the publisher is in, and why gamers and investors shouldn’t worry.

Clearlake is even providing the company the money it needs to keep working on the products as the process plays itself out. And importantly, when the purchase is complete, Clearlake has committed to invest additional ample capital to let us finish the games we are making and continue making games going forward.

In short, they are investing in a new start for our company.

Chapter 11 proceeding of the Bankruptcy code. The most important thing to understand is that Chapter 11 does not mean the end of the THQ story or the end of the titles you love. Quite the opposite is true, actually.

So while bankruptcy at first glance sounds like the end of the road for THQ, it appears to be more of a fresh start than anything else. Rubin is remaining positive (after all, he has not choice) so hopefully, this will be the beginning of a comeback for the publisher.

“In short, the teams will be unburdened by the past and able to focus on what they should be focusing on — Making great games,” Rubin added. “I’m excited about the future and hope to have more to report soon.”